Competitiveness, Innovation and Productivity: Clearing Up The Confusion

ITIF explains the difference between competitiveness, innovation and productivity in this policy memo.

To listen to many economists, pundits and policymakers discuss the economics of growth it would be easy to be confused by the commonly used terms: competitiveness, innovation and productivity. These terms are often used almost interchangeably and with little precise meaning. To remedy the situation, this policy memo defines these terms and explains how each is important in driving economic prosperity.